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Faruqi & Faruqi, LLP Announces Investigation of Dendreon Corp.

^{Published on 2011-08-16 11:46:30 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Dendreon Corp. (aDendreona or the aCompanya) (NASDAQ: DNDN). Faruqi & Faruqi, LLP seeks to determine whether Dendreon violated federal securities laws in connection with statements made to the Companya™s shareholders.

Request more information now by clicking here: [ www.faruqilaw.com/DNDN ]

Specifically, the investigation focuses on whether certain individuals violated federal securities laws by, among other things, failing to disclose that: (1) physicians were not adopting the Companya™s new PROVENGE cancer drug as expected due to concerns of insurance reimbursement and over concerns that the drug was extremely expensive, relative to its results; (2) sales forecasts based on physiciansa™ immediate adoption of PROVENGE were dramatically inflated because of a lack of options to finance these expensive treatments; and (3) the Company did not have adequate systems of internal operational or financial controls.

On August 3, 2011, after the close of trading, Dendreon announced financial results which fell far below analystsa™ expectations. The Company also withdrew financial guidance for 2011. On this news shares of Dendreon common stock fell over $22.00, or 60% per share, to reach a multi-year low of $13.39 per share.

Take Action

If you purchased Dendreon securities between January 7, 2011 and August 3, 2011, and you would like to discuss your legal rights, visit [ www.faruqilaw.com/DNDN ]. You can also contact us by calling Anthony Vozzolo toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [ avozzolo@faruqilaw.com ]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Dendreona™s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The firm is focused on providing exemplary legal services in complex litigation. Founded in 1995, the firm maintains its principal office in New York City, with offices in Delaware, California, Florida, and Pennsylvania. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.

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